Just wanted to understand your thought process behind your statement.

Auslanco - GBP/JPY and GBP/USD (newstrade)

Based on what? Not saying it won't happen b/c's thats my take as well. It may go as low as 226 and bounce but it did that earlier (bounced off 226.58) this a.m. so I would be surprised it it went there again but it surely possible. . .

Auslanco - GBP/JPY and GBP/USD (newstrade)

So what are your thoughts regarding GJ? I was just reviewing the 4hr, daily, weekly and monthly charts. . . Daily momentum is pointing up, MACD looks OS and is starting to point up. Weekly momentum mildly to the upside and MACD looks to be OS. On a ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

I wouldn't be surprised to see a short squeeze higher in this session/london to 228.50/80 area. I may come back down to the daily fib. But I think we may see it take a run at it. At some point this gap will close. Also GJ may touch the 61.8% fib ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

Especially Todd Gordon, how many of his analysis have been way off base - If you look at the 15 min chart up to the point where it dropped to 227.72 a pennant was being formed. Next target that need to be hit before the NY session ends is ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

There is a pennant formed on the 15 min chart, so it should end the session the way it entered - "up". . .

Auslanco - GBP/JPY and GBP/USD (newstrade)

Good time for me to stay out until UJ breaks out of its tight range and GU works its way out of the oversold condition. Until then I think we'll see GJ trade in a tight sideways range.

Auslanco - GBP/JPY and GBP/USD (newstrade)

M2B, I show the same - gap not closed yet looking @ 1hr chart. . .

Auslanco - GBP/JPY and GBP/USD (newstrade)

Yep, closed out all longs @ 228.50 after I saw it stall. Looking to get back in when if it bounces of 227.20/30's again. . . Good trading all!

Auslanco - GBP/JPY and GBP/USD (newstrade)

Looking for the gap to get closed on this run. Next resistance above is 228.50's. After that 229.50's, next 230.21. . .

Auslanco - GBP/JPY and GBP/USD (newstrade)

Got out on the way up for 75 pip profit, bought back at 226.65. . . 1st target 227.90, 2nd target 229.20/90 if it gets there. . . Good luck guys and trade what u see. . .

Auslanco - GBP/JPY and GBP/USD (newstrade)

If 227.50 (was resistance) support holds I think we'll see higher if it takes out 228 resistance. At the very least I would think it would retest heavy resistance @ 229 or so. . . As Karmo said monthly 5 SMA is @ 232.80 but it has some wood to chop ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

I see res. above @ 228.16, 228.50's, 229.90's, 231.60's and 232.60's. . .

Auslanco - GBP/JPY and GBP/USD (newstrade)

Just closed my short from 228.30's to 227.30's. May be limited down from here. Wouldn't be surprised to see it run back to 228.00 shortly. And remember we still have that opening gap to fill at some point. I'm actually now looking for buying ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

It's also the 50% fib. from the last bull run up. I think we'll see a break in that level soon. . .

Auslanco - GBP/JPY and GBP/USD (newstrade)

GJ may head down short term to touch 61.8% fib. from the last bull run up @ 227.20's or so it may even go as far as daily S1 @ 226.85 before heading back up. I would watch for the bounce when it gets down there. . . I'm short @ 228.32, TP ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

Aus, thanks for that analysis - we are thinking along the same lines. I think there is a demand for the pair @ 226.50 and the target is 229.50 or better. Whether we get there or not remains to be seen but I too expect extreme volatility on this day ...

Auslanco - GBP/JPY and GBP/USD (newstrade)